Cost Accountant - Manufacturing Field

  • Dammam, Ash Sharqiyah
  • Permanent
  • Full-time
  • 1 month ago
Job Summary: The Cost Accountant is responsible for collecting, analyzing, and reporting on cost information related to an organization's operations, production, and various business activities. This role involves developing and maintaining cost accounting systems, performing in-depth cost analysis, and providing insights to management for cost reduction, efficiency improvements, and informed decision-making.
Key Responsibilities:
  • Cost Analysis and Reporting:
o Collect and analyze cost information, including raw materials, inventory, labor, overhead, and other operating expenses.
o Determine the costs and efficiency of company purchasing activities and production processes.
o Analyze actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs (variance analysis).
o Prepare and complete internal cost audits, identifying discrepancies and recommending corrective actions.
o Analyze and report on profit margins, cost drivers, and key financial performance indicators.
o Develop and maintain accurate costing systems in relation to labor, production methods, and material supply.
  • Budgeting and Forecasting:
o Collaborate with other departments to develop comprehensive budgets and forecasts based on cost analysis.
o Prepare budgeting reports for the company and individual departments.
o Prepare (monthly, quarterly, and annual) cost forecasts and assist in revenue projections.
  • Cost Control and Efficiency Improvement:
o Identify and recommend cost-effective solutions and opportunities for cost reduction.
o Work with various departments (e.g., operations, production) to streamline processes and eliminate unnecessary expenses.
o Develop and implement strategies to control costs and maximize profitability.
o Participate in physical inventory counts and monitor cycle count programs to ensure accurate inventory records.
  • Product Costing and Inventory Valuation:
o Determine the cost of producing specific goods or services, including assigning costs to various production stages.
o Assist in estimating new product costs and conducting product line analysis.
o Ensure accurate valuation of inventory by considering factors like purchase costs, production costs, and overhead.
  • Financial Reporting and Compliance:
o Provide accurate and timely cost-related information for financial statements and reports.
o Assist in month-end and year-end closing activities for the General Ledger.
o Ensure compliance with Generally Accepted Accounting Principles (GAAP) and relevant accounting standards and regulations.
o Maintain company accounting procedures and processes.
  • Decision Support and Communication:
o Present cost estimates and budgets for new purchases or projects.
o Communicate financial insights and recommendations to management, executives, and other stakeholders in a clear and concise manner.
o Assist management in making informed decisions by evaluating the financial impact of different business strategies or investment decisions.
Qualifications:
  • Education: Bachelor's degree in Accounting, Finance, or a related field. professional certification (e.g., Certified Management Accountant (CMA) minimum Part 1.
  • Experience: 2-5 years of proven work experience as a Cost Accountant, Cost Analyst, or similar accounting role, preferably in manufacturing, steel structure or construction or related industry.
o Valid & Transferable Iqama.
  • Technical Skills:
o Strong proficiency in accounting software (e.g., ERP systems or specific cost accounting software).
o Advanced Microsoft Excel skills (including VLOOKUPs, pivot tables, and financial modeling).
o Experience with data accumulation systems and financial reporting tools.
  • Soft Skills:
o Excellent analytical and problem-solving skills with a strong attention to detail.
o Exceptional communication and interpersonal skills, with the ability to effectively communicate financial information to non-finance staff.
o Strong organizational and time management skills, with the ability to handle confidential information with integrity.
o Self-motivated, proactive, and capable of working effectively in a fast-paced environment with multiple stakeholders.
o Aptitude for mathematics and statistics.
Working Conditions: Typically an office-based role, but may involve occasional visits to production facilities or other operational sites depending on the industry.ONLY Qualified candidates can apply by email ( ) with mention the job title in the subject.

Expatriates